Honestly right now is not the time to buy a brand new car. If you want to get a great deal, look at used cars. They are absolutely rock bottom and dealers will do anything to get rid of them. I have seen in the last few days a 2004 Viper with 12k miles for $35,000. A 2004 Merceds SL500 for $37,000 and a 2007 Jeep SRT-8 for $23,000. All of these vehicles were in mint condition. And I know for a fact as soon as you buy that 09 and turn the key, you are down $10,000 in the vehicle easily because dealers do not want used cars right not. So why not buy a nice used car that has already taken a beating depreciation wise??? You get a lot more car for half the price....

If I was looking for another car right now... I would not even consider a new vehicle... no matter what the interest rate.

 

It seems the incentive on the 2009 will expire on 2/2/09

 

Well same can go with new cars to. especially for the 08. Dealers are selling new 08's for well under invoice to make room for the 09 and if can't can't watch invoice or something they will try to get rid of the car some how some way.

For me bought a 08 well under invoice and they included the free 6 warrenty program for it.

 

True. But your missing the point. Call another dealer and tell them you want to trade in your 08 and see what they offer you compared to what you just paid. It will be significantly lower due to the market. Any new car (08 or 09) will get hammered as soon as you drive it. In fact when you turn that key the 08 is now 1 YEAR OLD. Which means while it didnt depreciate when it was sitting on the lot, it depreciated a whole year with the turn of the key. In todays market, that turn of the key will cost you over 10 grand... so it doesnt make sense to take that hit when you can get a practically new car that already has.

 

Well doesn't it go the same way with pre owned also. Matter of fact I checked at a dealership today and they were offereing me 34,000 right now for my car (not like I'm going to trade it any way) and my friend who bought a g37 used got way lowered than what he paid for. Also, it would't cost you 10k for a 08 because the dealers are cutting the prices alot. matter of fact as I said earlier I got my car 600 under invoice and my invoice was 40k (rounded up) and at this point they are offering me 34k which is like only 6k off but thats how normally it is.

But than again it all depends on how well your car is in shape and how many miles you have on it.

 

some people buy a 50 dollar couch at a garage sale. I pay 500 for the same couch minus baby batter stains at a furniture store. Why? I like new and am willing to pay for it.

 

+1 on that well quoted.

 

I would have to %100 disagree, if the buyer is considering a G37. Why? The past few months have been horrific for auto manufacturers. They are willing to deal on ANY car. The G37 is a sports car and sales of sports cars in the winter slow to a crawl. Buy a remaining 2008 and you have an arsenal that the dealer cant even begin to deny. I think cars are no different than say.. plasma and lcd tvs right now. Honestly, I will spend more this year than ever before, just because of the deals available right now in this market.

 

I live in US but I heard in Canada is very common for various persons or even dealerships to alter the odometer and sell a very old car at a close to new price (because of the "low" mileage)...Lately, I read on the Internet this practice got "imported" into US also...Only for that matter I will never take any chance with an old car and thus I buy new. Moreover I agree with the gentleman above, new is new and you only have ONE life.

Just a thought,
A

 

Well I think you kind of summed it up when you said you will spend more this year than any other. Thats a pretty typical American train of thought. Spend on credit and buy more than what you can really afford.

 

That is an assumption, and a generalization.

Right now is the best time to buy anything as long as your job is stable. Who do you think is buying the real estate right now? Investors are, because interest rates are at an all time low, and prices are have plummeted from their 2005-2006 high. Weak economy should mean strong spending. That's what gets the economy back on its feet. It's what we call business cycles.

Stimulus package ring a bell?

 

wait a minute... are you telling me when I buy a new car it depreciates the minute I drive it off the lot? No way.. it cant be..

 

Wow you must have quoted that from the newspaper. The problem is employment rates are very high and climbing every day. People do not have stable jobs so they are not spending. In a recession/depression people stop spending because they do not have any money. People are having a hard time buying homes right now because there isnt any money to loan. Stimulus package??? Are you kidding me??? The banks got their money, paid their employees their year end bonuses and are hoarding the rest... they are not even lending to other banks... much less consumers. The problem with this country is everything is on loan. People are up to their eyes in credit card payments (which we havent seen that collapse yet... but its coming), over extended on their homes, and spending money on things they dont need, and are going bankrupt every day. Look at the foreclosure rate in this country. Car dealerships and other businesses are going under at alarming rates... and you think there is strong spending!!! LOL thats the most ridiculus thing I have heard. Tell all the people who are homeless now because their home was foreclosed on that they should spend more. It will help the economy.

It will also help cut into that 1.2 trillion dollar deficit we are going to have this year... yes that is this year alone. So go spend spend spend money you dont have and tell me how it works out for you in 10 years. Stimlus package... thats good stuff right there.

 

It sure does which supports what I am saying about there being great deals on used cars right now. car companies want you to think you are getting a great deal on that 08 or 09 because they need to turn inventory. They are still making a killing off of people like you because you think you are getting a good deal.

 

Something tells me you are not a finance major.

I mean Congress, the president of the United States...they do not know what they are talking about do they? Why are they even thinking about sending out yet ANOTHER stimulus package? Oh wait...there IS a reason behind it.

The point of the stimulus package was to give consumers some cash to boost spending. Spending increases companies profits. (The money you and I spend goes to companies for providing goods and services.) You said unemployment is rising and you are right. Do you know WHY? Because consumers aren't spending. Stocks are down because companies are taking losses, or not profiting as much as they anticipated. This worsens consumer outlook, thus decreasing spending even more. This viscious cycle leads to more unemployment and even less spending, and so on and so forth.Spending is key to turning a poor economy

You can argue against that all day chief, I've got the government and every economist on my side on this one.

As for the housing market, shady lenders are stupid buyers are to blame for that. Lenders said, hey dont worry you can afford it with this fancy ARM loan. Just refinance in a few years if you need to. The dumb buyer believed them...and here we are. Due to these creative loans, prices of homes were "artificially inflated" to the ridiculous prices we saw 2 years ago which didnt reflect true value.

By the way, I never said to go buy stuff on credit. Simple rule applies,whether we are in a recession or not. If you can't afford it, don't buy it--credit or not. Common sense.

As for spending money I don't have, thats a rather bold statement. You do not know my financial status, and by the sound of it, you don't have a good grasp on your own.

At the ripe young age of 23, I'd be willing to bet I'm more well off than most....and debt free.

*edit* also, I don't know what the banks have to do with me spending. You don't need to take out a loan to buy a cheeseburger, or a video game at best buy. Maybe you are misunderstanding what I mean by spending.